Tariffs and economic war/fears send shares lower
Although the Turkish lira rebounded again today, that did not slow a move to lower in European equity price as trade and economic wars and contagion from them, weigh on the markets.
- German Dax fell -1.9%
- France CAC fell -2.1%
- UK FTSE fell -1.7%
- Spain's Ibex fell -1.1%
- Italy's FTSE MIB fell -0.3%
- Portugal PSi20 fell -1.59%
The yields in the 10 year notes saw German, UK and France yields lower on flight to safety flows. Spain, Italy and Portugal yields rose.
IN other markets:
- Spot gold is down sharply and trades near the low levels. It is down -$17 at $1177.22.
- WTI crude oil is down -$2.19. Inventory data showed a large build of inventories. The futures trade at $64.90. The low reached $64.51.
The JPY is remains the strongest as all the JPY pairs fall on stocks declines. The USDCAD is soaring (the CAD is tumbling).
